Specialist truck provider MV Commercial has revealed that it has completed a multi-million-pound deal to buy tipping trailer and rigid body manufacturer Fruehauf out of administration.
The move will protect 120 jobs and deliver a positive future for one of the best-known brands in the haulage industry.
The landmark deal includes an immediate cash injection and a commitment to a £30m investment over the next three years as part of ambitious plans to modernise the manufacturing facility.
The plans include a bid to realise the full potential of Fruehauf’s 67-acre site in Grantham, Lincolnshire.
MV Commercial will also revive the legendary ‘Crane Fruehauf’ name – which is what the business was called until 1998.
Rebranding of Fruehauf
The rebranding of Fruehauf is expected to be completed in the coming weeks.
The CEO of MV Commercial, Tom O’Rourke, said: “This is a hugely significant day for both businesses, and an opportunity we couldn’t turn down.
“Fruehauf has a fantastic product range, a rich heritage and a wealth of talent within its team which will be complemented by MV Commercial’s strength and experience in the marketplace.”
He added: “With immediate effect we are starting work to scale production back up, enabling us to commit to a delivery schedule for outstanding customer orders and begin building new stock trailers for MV’s own contract hire and ready-to-go fleets.”
Mr O’Rourke adds: “MV Commercial is best known for building the biggest and most capable crane trucks in the market.
“Cranes are a huge part of what we do, so we certainly weren’t going to turn down the opportunity to put the ‘Crane’ back into ‘Crane Fruehauf’!”
Plans to open a truck sales and rental facility
MV Commercial is best known for its one-stop-shop approach and plans to open a truck sales and rental facility on-site in Grantham within the next month.
Work will also begin within days to refurbish and modernise much of the Fruehauf site.
Steven Cairns, the managing director of MV Commercial, said: “Geographically, Grantham is the perfect fit for us to develop a true ‘super site’. We should have 80-90 trucks and trailers available for sale on-site within a month, and the manufacturing workforce back in the factory building at pace again.
“We are so excited for the potential this acquisition brings and committed to ensuring there is a lot more Fruehauf product available in the marketplace. For long-time Fruehauf customers, we are confident this is very good news.”
Production capacity within the factory is expected to quickly reach 15-20 trailers per week under MV’s stewardship, with the future investment to focus on greater automation and achieving world-class production standards.
The full Fruehauf trailer and body range
MV Commercial has committed to continue offering the full Fruehauf trailer and body range, and the current workforce will transfer under TUPE.
The firm employs 190 staff across five sites and has a strong track record for delivering business growth, both organically and through acquisition.
It has previously acquired the assets of two major rental businesses – Regal Truck Rental and TLS – plus, in 2015, it acquired bodybuilder JWR Recovery Trucks.
In November 2020, MV Commercial was named as one of the London Stock Exchange Group’s ‘1,000 Companies to Inspire Britain’.